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April 19, 2023
Snap Inc., Qualtrics International Inc., Netflix and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Markets did not have a clear cut direction — S&P 500 closed 4,155 after a stable day. Dow Jones closed at 33,977 after a flat day.
Watsco, Inc. & FirstEnergy Corp have released their earnings reports with STMicroelectronics N.V. and Credit Suisse Group AG are set to publish their respective reports as scheduled.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. Usually, these reports are released four times a year (quarterly reports) and have a significant impact on the market. These announcements are typically taken into consideration when making predictions.
Markets are flat and stocks have released their quarterly earnings reports. Here is an update on what to look out for.
Snap: mixed results
The company reported mixed earnings results today, with EPS at -0.22 and revenues at $1.30 billion, compared to a consensus of -0.01 Earnings Per Share and $1 billion revenue.
Bullish sentiment helped the US camera and social media company to hammer out a noteworthy $11 to $11.34 range yesterday, and finally closing at $11.04 to end the session. Daily trading volume (25.44 million shares) increased, making up 112% of the 21-day average (22.79 million).
Qualtrics International poised to open at $17.94 in 3 hours time; earnings results due tomorrow
Qualtrics International is scheduled to announce earnings results tomorrow. The consensus EPS estimate is -0.38 and the consensus revenue estimate is $392.91 million.
Qualtrics International closed a flat day of trading at $17.94 yesterday after ending Monday at $17.94. Yesterday's trading volume was 4.30 million shares which is slightly below the 21-day average of 4.51 million.
Netflix: mixed results
Netflix reported earnings results yesterday, with EPS at 3.53 and revenues at $8.16 billion; these results are mixed when compared to a consensus of 2.85 Earnings Per Share and $8.17 billion revenue. Since the release of its earnings report, Netflix gained 0.29%.
A mostly flat day so far for the streaming heavyweight, range-bound between $330.5 and $337.19 and currently at $333.7.
The past 6 months have been positive for the streaming company as it appreciated 38.7%, having traded as low as $166.37. So far this year, it has been doing worse than the Nasdaq by 1.35%. The company has a market cap of $148.61 billion with an average daily volume of 6.71 million shares.
First Horizon Corporation | Retains downward momentum since earnings report yesterday
The company reported earnings of 0.38 per share yesterday, falling short of expectations of 0.47. Revenue was also lower than expected at $859 million versus $879.21 million. First Horizon Corporation lost 1.02% since the release of its earnings report.
After ending Monday at $18.54, First Horizon Corporation dropped to $18.21 early in yesterday's session and closed at $18.35. In total, it lost 1.02%.
First Horizon Corporation hit a significant low of $14.93 around a month ago, but has since recovered 24.18%. So far this year, it has been under-performing the Nasdaq by 39.32%. The company is currently trading with a market cap of $9.86 billion with an average daily trading volume of 6.48 million shares.
After closing yesterday at $501.41, the aerospace supplier peaked at $508.1 before giving up early gains and closing at $501.41. Daily trading volume (2.52 million shares) increased, making up 204% of the 21-day average (1.24 million).
